Lockheed Martin has agreed to buy Ultra Maritime, a naval defense company focused on anti-submarine capabilities, in a deal valued at about $3.45 billion. Multiple outlets report the purchase price as $3.45 billion, with some describing it as roughly $3.5 billion. Ultra Maritime is owned by private equity firm Advent International. The acquisition is intended to expand Lockheed’s undersea and naval defense portfolio, including technologies associated with submarine detection and related counter-submarine systems. Sources describe Ultra Maritime’s product areas as sonar systems, sonobuoys, and torpedo defense technology used by allied navies. After the transaction closes, Lockheed plans to integrate Ultra Maritime into its structure—specifically into its rotary and mission systems business, according to reporting from outlets including Breaking Defense and the Jerusalem Post. Bloomberg also links the agreement to increased demand for sea-based weapons systems. The reported terms and timing of closing are not detailed in the excerpts provided, but the deal is presented as part of Lockheed’s broader push to strengthen maritime and undersea warfare offerings.